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Job

Regional Chief Financial Officer

  • Location

    Nairobi, Kenya

  • Sector:

    Insurance

  • Job type:

    Permanent

  • Contact:

    Sehar Neky

  • Job ref:

    201

  • Published:

    7 months ago

  • Expiry date:

    2019-09-11

  • Consultant:

    #

Jubilee Insurance Ltd. was established as the first incorporated Insurance Company based in Mombasa in August 1937. They have since spread their wings and sphere of influence as the No. 1 Insurance Company in the region with offices in Kenya, Uganda, Tanzania, Burundi and Mauritius and are recognized as the largest Composite Insurer in East Africa with over 450,000 clients.

They are listed in the Nairobi Securities Exchange, Dar Es Salaam Stock Exchange and the Uganda Securities Exchange having been rated highly on Leadership, Quality and Risk Management and awarded AA- rating in Kenya & Uganda and an A+ in Tanzania.

The Role

The Regional Chief Financial Officer will report to the Regional CEO JHL and will have the Finance and Accounting heads of Jubilee insurance Kenya, Uganda, Tanzania, Mauritius and Burundi reporting into them.

The Regional Chief Financial Officer will be tasked;

  • To lead, manage and set standards for the finance and accounting team within the Jubilee organization across all markets in which the group operates.
  • To support the Regional CEO in the development of strategy with supporting budgets and business plans.
  • To upgrade financial controlling and reporting standards in Jubilee whilst supporting the business to achieve targeted growth and profitability.
  • To ensure the financial stability of the organization and solvency of the insurance subsidiaries, through accurate reporting, and developing standards of financial performance in the accounting and finance areas, including coordination with the internal and external actuary.
  • To oversee the investment management activities of JHL and its subsidiaries including active participation in the JHL Investment Committee.
  • To deliver timely and accurate financial reporting to internal and external stakeholders.
  • To help determine company policy and explain complex financial matters to other company executives, board directors, government officials, shareholders etc.

Responsibilities

1. Strategic

  • Ensure JHL’s financial benchmarks and targets are in line with Group standards and are communicated and implemented across all Jubilee business lines and branches.
  • Coordination of the JHL Strategic planning and Budget process.
  • Provide financial direction on potential M&A or regional expansion activities, including the preparation of business plans and budgets for potential new operations.
  • Coordinating the investment strategy of the company to monitor and manage Asset and Liability matching.

2. Controlling and Reporting

  • Enhance the utilization of the integrated financial and management information systems. 
  • Analyse and report financial information to management and the Board within agreed timelines including profit & loss statements, capital investment, budget allocation, cash flow forecasting and asset-liability management.
  • Advise and be a point of reference for the Regional CEO and Board of Directors in all financial matters which impact JHL.
  • Review and analyse financial data and performance against plan and industry overall performance.
  • Ensure timely delivery of reports required by regulatory and industry bodies.
  • Establish and maintain the financial business plan for the Group, including the expense budget and monitor variances between budget and actual performance.
  • Maintain effective models of the business to support the business planning process.
  • Implement systems to enable management of expenses and capital needs within budget.

3. Accounting

  • Ensure adequate recruitment and development of finance staff.
  • Agree and evaluate targets (budget and performance) to steer and motivate the department according to agreed performance management and budget targets.
  • Coordinate with the Internal Audit team to ensure a transparent and objective review of all points raised through the internal audit process.
  • Oversee the activity of the external auditors and actuary for JHL in collaboration with the respective Finance Manager’s.
  • Coordinate with the internal and external actuary to ensure completion of statutory valuation and reserve calculations.

Job Qualifications

  • Experience of financial management and accounting practice within an insurance company environment is desired.
  • Experience of running the finance function of a major organization.
  • Chartered Accountant or CPA with practical experience of modern accounting practice including the application of International Financial Reporting Standards.

Skills and Personal Qualifications

  • Excellent leadership skills.
  • Excellent planning, managerial and follow up abilities.
  • Excellent interpersonal skills and people oriented with an ability to mobilize teams.
  • Excellent communication skills.
  • High problem solving abilities.
  • Creative and highly motivated with an ability to handle work pressure and to meet tight deadlines.
  • Keen on learning, self-development and employees development.
  • Strong coaching skills.
  • Good computer skills.
  • Excellent written & spoken English